Malaysian Deputy Prime Minister said that the government had reached an agreement with the private sector on the need for a minimum wage policy. Based on a certain website, it was rumored that the Cabinet had agreed to set a minimum wage of below RM1,000 for the 3.2million workers in the private sector, with a RM100 difference between states in the peninsula and East Malaysia.
The opposition has however said that the minimum wage should be set higher at between RM1,000 and RM1,200. The Democratic Action Party's (DAP) Charles Santiago said, "A higher increase in minimum wage will increase productivity and innovation."
I am not sure how a higher minimum wage increases productivity and innovation. Anyone has any idea?
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